迅销集团Management Strategy文档格式.docx

迅销集团Management Strategy文档格式.docx

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LastUpdated:

2011.12.01

toJapanesepage

ShiftingfocusofUNIQLOgrowthtomarketsoutsideJapan

SalesandIncomeTurnedUpintheSecondHalfofFiscal2011

Truetotarget,wegeneratedaturnaroundinsalesandprofitinthesecondhalfoffiscal2011fromMarchthroughAugust,assalesofourSilkyDryandSarafinefunctionalinnerwearrangesdoubledyearonyear,leadingtoareboundinsalesatUNIQLOJapan.Inmyopinion,thiswasadirectresultofourdrivetostrengthentheappealofUNIQLOproductsandtoenhancecoordinationacrossourunique,verticallyintegratedbusinessmodel-spanningtheentireclothes-makingprocessfromdesignandplanning,productiontomarketingandretailsale.

TargetingUNIQLOInternationalSalesofÂ

¥

160.0blninFiscal2012

OurfocusforfutureUNIQLOgrowthisshiftingoutsideofJapan.IamconvincedthattheopeningofourNewYorkFifthAvenueglobalflagshipstoreinOctober2011willproveagiantleapforwardinourquesttoearnworldwiderecognitionforUNIQLOasaleadingJapanesebrand.IhavethesamefeelingofexcitementnowasIdidbackin1998whentheopeningofourfirstcitystoreinTokyo'

strendyHarajukudistrictpropelledUNIQLOfromanetworkofroadsidediscountstorestoaquality,urbanfashionbrand.Now,eachtimeweenteranewnationalmarket,InotonlysenseanappreciationforUNIQLO'

squalityproducts,butalsoahighregardfortheUNIQLObranditself.ThereareeventimeswhenIfeeltheUNIQLObrandisevaluatedmorehighlyinoverseasmarketsthaninJapanwherethelegacyofourhumblebeginningsstilllingers.

Today,ourinternationalUNIQLOoperationisgainingmomentum,backedbyastrongpresenceinfast-growingAsiannationsledbyChina,Hong,Kong,SouthKoreaandTaiwan.Wearepreparingtheinfrastructureformassnewstoreopeningsinthesenationsaswellasthecapacitytosourceandtrainlocalpersonneltodispatchacrossaglobalnetwork.Withinafewyears,Iwantustobeabletoconsistentlyopenbetween200and300newstoresoverseaseachyear,andIamlookingforUNIQLOInternationaltoovertakeUNIQLOJapanintermsofsalesinfiscal2015.

UNIQLOClothesas"

TheElementsofStyle"

WemaybeshiftingourfocusforfutureUNIQLOgrowthoverseas,butwedonotintendtodisregardtheJapanesehomemarket.Indeed,tobesuccessful,wemustbecometheoverwhelmingnumberonebrandinJapantoo.Tothataim,weplantoopenshowcaseglobalflagshipstoresinTokyo'

sGinzainspring2012andShinjukuinfall2012.Ibelievetheopeningoftheseimpressivelyspacious,eye-catchingglobalflagshipstoreswilltransformtheUNIQLObrandinJapantoo.OurultimategoalistoperfecttheEssenceofUNIQLO-clothesastheelementsofstyle,clothesthatsuityourvalues,clothesmadeforall.Weseek,throughclothes,togenuinelyenrichpeoples'

livesinJapanandaround.

Theexpansionofg.u.

Ourlow-pricedcasualwearisalsopoisedforanewstageofimpressivegrowthinfiscal2012.SaleshavebeguntoexpandfavourablythankstothepositiveimpactfromTVcommercialsandtheopeningofflagshipstoresinShinsaibashiandIkebukuroEastExit.Wefullyexpecttheg.u.operationtoshiftupanothergearwiththeopeningofanewflagshipstoreinGinzainspring2012,drawingevenmoreattentiontothislabelofferingstylishfashionatultimatelowprices.

TheFastRetailingGroupwillforgeaheadunitedinourcorporatemissiontochangeclothes,changeconventionalwisdomandchangetheworld.WewillcontinueourchallengetobecomeanewkindofglobalcompanyfromJapan,enablingallpeople,allovertheworldtoexperiencethejoyofwearingtrulygoodcasualclothes.

November2011

TadashiYanai

Chairman,PresidentandCEO

FASTRETAILINGCO.,LTD.

AStrategy

2011.09.01

ObjectivesofM&

A

TofurtherincreasethesalesandprofitabilityoftheFastRetailingGroup,oneoptionismergersandacquisitions（M&

A）.TheobjectivesofourM&

Aactivitiesare,first,toacquirebusinessesoverseasandinnewmarketstostrengthenourbusinessplatform.M&

Awillenableustoexpandourretailstorenetworkandobtaintop-qualitytalent,eveninnewmarkets.ThesecondobjectiveofourM&

Aactivitiesistoacquirebrandswiththepotentialforglobaldevelopmentandtherebystrengthenandexpandourportfolio.OuracquisitionsofTheory,ComptoirdesCotonniersandPrincessetam.tamareexamplesofsuchM&

Aactivities.

ACriteriaandDecision-MakingProcess

ThetwomostimportantcriteriainassessingM&

Adealsaregrowthpotentialandprofitability.Thekeyconditionforgrowthiswhetherthebrandhasthepotentialtodevelopglobally.Ifthebrandhasasolidunderlyingconcept,wecanactivelyshareourinfrastructure--thefinancialresourcesoftheFASTRETAILINGGroup;

ourknow-howinstoreoperations,productionmanagementandsalesplanning,inventorymanagement,andotherareas;

productionsystemsinChina;

andinformationsystems--andworktogethertorealizehighgrowthandprofitability.

AnotherimportantcriterioninselectingM&

Adealsiswhetherthecompany'

smanagementsharesthevaluesofUNIQLOandtheFASTRETAILINGGroup:

inotherwords,whetherthemanagementhasaspiritofinnovationandchallengethatwilldrivethecompanytocreatelarge,highlyprofitable,andhigh-growth,globalbusinesses.

Whenmakinginvestmentdecisions,M&

AproposalsarecarefullyexaminedbytheBoardofDirectors,whichincludesfourexternaldirectors,andfinaljudgmentsarebasedonassessmentofinvestmentreturnsandsynergies.

StrategicMilestonesoftheFASTRETAILINGGroup

2004

January

AcquiredanequitystakeinLINKINTERNATIONALCO.,LTD.（nowLINKTHEORYJAPANCO.,LTD.）,developeroftheTHEORYbrand

2005

March

AcquiredONEZONECORPORATION

May

ObtainedmanagementcontrolofNELSONFINANCES.A.S.,developeroftheCOMPTOIRDESCOTONNIERSbrand

2006

February

AcquiredPETITVEHICULES.A.,developerofthePRINCESSETAM.TAMbrand

EstablishedG.U.CO.,LTD.

April

InvestedinCABINandconcludedanoperatingalliance

November

InvestedinVIEWCOMPANYCO.,LTD.

2007

August

MadeCABINintoasubsidiarythroughatakeoverbid

2008

MadeVIEWCOMPANYCO.,LTD.intoasubsidiarythroughatakeoverbid

2009

MadeLINKTHEORYJAPANCO.,LTD.intoasubsidiarythroughatakeoverbid

MoreinformationonourBusinessbyGroup

IndustryRanking

2011.07.08

WorldwideApparelSpecialtyStores

CompanyName

（FlagshipBrand）

Country

Endof

FiscalYear

Sales

（¥

Billions）

（Billions

ofdollar）

Change（%）

（localbase）

INDITEX（ZARA）

Spain

Jan.

2011

1,472.3

17.8

+13.0

Hennes&

Mauritz

Sweden

Nov.

2010

1,424.2

17.2

+0.7

Gap

1,214.6

14.7

+3.3

FASTRETAILING（UNIQLO）

Aug.

814.8

9.8

+18.9

LimitedBrands

796.2

9.6

+11.4

NEXT

459.5

5.6

+1.4

PoloRalphLauren

Mar.

412.4

5.0

▲0.8

Esprit

Jun.

359.3

4.3

▲2.2

Abercrombie&

Fitch

287.3

3.5

+18.4

LizClaiborne

Dec.

207.1

2.5

▲14.3

Notes:

Compiledfromtheannualreportsofthecompanieslistedabove.

*FigurescalculatedinyenusingtheendofMarch,2011foreignexchangerates.

SPAstandsfor"

SpecialtyStoreRetailerofPrivateLabelApparel"

meaningitsactivitiesarefullyintegratedfrommanufacturingthroughsales,includingmaterialprocurementdesign,productdevelopment,production,distribution,inventorymanagement,andfinalsales.

WorldwideApparelSpecialtyStores:

RankedbyMarketCapitalization

Note:

MarketCapiscalculatedinyenusingtheendofMarch,2011foreignexchangeratesandstockpriceofeachcompany.

JapaneseDomesticClothingRetailRankings

UNIQLOCO.,LTD.wasrankedfirstintheNikkeiMarketingJournal'

s"

FY2010BuyingPowerRankings"

forJapanesedomesticapparelretailerspublishedJune29,2011.

Ranking

Company

TypeofBusiness

ApparelRetail

Sales（¥

billion）

Y/Y（%）

%toNet

Sales（%）

1

UNIQLO

SpecialtyStore

571.9

+12.5

100.0

2

Shimamura

440.1

+2.4

3

SogoandSeibu

DepartmentStore

384.4

▲4.3

46.1

4

Takashimaya

325.2

▲1.6

47.3

5

DaimaruMatsuzakayaDepartmentStores

258.7

▲22.0

40.5

6

Isetan

255.8

▲8.2

70.4

7

Ito-Yokado

GMS

255.1

+6.2

18.9

8

MaruiGroup

HoldingCompany

224.9

69.4

9

HankyuHanshinDepartmentStores

170.1

▲2.6

48.7

10

AOYAMATRADING

162.3

+0.6

Takenfromthe"

publishedintheNikkeiMJ（June29,2011）.

UNIQLO'

sretailapparelsalesonlyencompassthesalesfromdirectly-operatedstoresinJapan.Thisfiguredoesnotincludethebrand'

sdirectsales（23billionyeninsalesfromtheonlinestore）orthemerchandisesuppliedtofranchisestores（valuedat7.2billion